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IPDC Inaugurates New Management System

May 23 , 2021

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The Industrial Parks Development Commission (IPDC) launches an enterprise resource planning (ERP) that will automate business functions across its 13 industrial parks. The system allows for the integration of business processes across finance, human resource, sales and distribution systems, and the move is aimed at improving organisational efficiency. The software was purchased from US-based firm Oracle while implementation was handled by SoftPro International, a Mauritian company. SoftPro was selected from among seven firms that competed in the bid to implement the system. The entire process was funded with 700,000 dollars in financing from the World Bank. Two notable domestic institutions, Ethiopian Airlines and the Commercial Bank of Ethiopia (CBE), already utilise ERP systems from Oracle.

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Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...

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NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...

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Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...

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